Which of the following is a characteristic of a general? partnership?
A. Partnerships do not have to pay? taxes, but a corporation does.
B. The partners have joint liability for the? firm's financial obligations.
C. It is a corporation.
D. Only one partner can make decisions.
E. It is owned by one individual.
B. The partners have joint liability for the? firm's financial obligations.
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Trade, both within and across national borders, ________
A) discourages specialization in production B) exploits absolute advantage C) reduces interdependence among nations D) increases productive efficiency
Not all unemployment ends with the job seeker finding a job
a. True b. False Indicate whether the statement is true or false
Exhibit 5-7 GDP data (billions of dollars) Personal consumption expenditures$5,207 Interest425 Corporate profits735 Government spending1,406 Depreciation830 Rental income146 Gross private domestic investment1,116 Compensation of employees4,426 Exports870 Imports965 Indirect business taxes553 Proprietors' income520 Personal taxes886 Social Security taxes432 Transfer payments376 In Exhibit 5-7, and using the expenditures approach, gross domestic product (GDP) is:
A. $6,807 billion. B. $7,082 billion. C. $7,634 billion. D. $7,637 billion.
Suppose that inventories are rising. We could expect that, in the future:
A. Real GDP will likely increase B. Real GDP will likely decrease C. We can't predict what will happen to real GDP D. Firms will raise prices of their goods and services